NICARAGUA: Textile exports to reach $2.5bn this year
Textile and clothing exports from Nicaragua are set to reach around US$2.5bn this year, due to higher investment and increased production in the free zones.
The forecast for the year would exceed last year's $2.2bn, according to preliminary figures from ProNicaragua, the country's investment promotion agency.
"We have significant investments in the country that will increase product exports," said Alvaro Baltodano, general presidential delegate for investments.
The reopening of the facility will create 600 jobs initially, with production extending from spinning to finished fabric, with an annual capacity of 28m yards.
ProNicaragua said the country's overall exports, meanwhile, are expected to reach $5bn this year, up on $4.7m in 2013.
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